U.S Department of Labor Releases June Employment Cost Index

Compensation costs for civilian workers increased 0.5 percent, seasonally adjusted, for the 3-monthperiod ending June 2010, the U.S. Bureau of Labor Statistics reported today. Wages and salaries (which makeup about 70 percent of compensation costs) increased 0.4 percent while benefits (which make up the remaining30 percent of compensation) increased 0.6 percent.Civilian Workers     Compensation costs for civilian workers increased 1.8 percent for the 12-month period ending June 2010.This was the same as the 12-month period ending in June 2009. Wages and salaries increased 1.6 percent forthe current 12-month period, compared to a 1.8 percent increase for the 12-month period ending in June 2009.Benefit costs rose 2.5 percent, up from a 1.8 percent increase for the 12-month period ending June 2009.Private Industry Workers     Compensation costs for private industry workers increased 1.9 percent for the 12-month period endingJune 2010, higher than the 1.5 percent increase for the 12-month period ending June 2009. The wage andsalary series increased 1.6 percent for the current 12-month period, the same as for the period ending June2009. The cost of benefits increased 2.5 percent for the 12-month period ending June 2010, higher than theJune 2009 increase of 1.3 percent. Employer costs for health benefits rose 5.0 percent for the 12-monthperiod ending June 2010. In June 2009, the 12-month percent change was 4.4 percent.     Among occupational groups, compensation cost increases for private industry workers for the 12-monthperiod ending June 2010 ranged from 1.5 percent for management, professional, and related occupations to2.3 percent for sales and office occupations. The sales and office increase was primarily due to a 2.9percent increase among sales and related occupations, which rebounded from a 1.6 percent decrease a yearearlier. The other component of sales and office occupations--office and administrative support--increased2.0 percent.     Among industry supersectors, compensation cost increases for private industry workers for the current12-month period ranged from 1.0 percent for construction to 2.6 percent for trade, transportation, andutilities.State and Local Government Workers     Compensation costs for State and local government workers increased 1.8 percent for the 12-month periodending June 2010. Since this series began in June 1982, published values ranged from 2.0 percent in March2010 to 9.6 percent in June 1982. Wages and salaries increased 1.4 percent. This series also began in June1982. Prior published values ranged from 1.8 in March 2010 to 8.5 percent in June 1982. Benefit costsincreased 2.6 percent. Prior published values for this series, which began in June 1990, ranged from 1.2percent in December 1997 to 8.3 percent in June 1990.

Posted via email from hrstrategist@Net-Speed